Amounts paid for COVID-19 home testing are medical expenses, IRS says. Ditto for the cost of personal protective equipment, such as face mask, hand sanitizers and wipes. Itemizers can deduct medical expenses on Schedule A only to the extent total medical costs exceed 7.5% of adjusted gross income. The PPE expenditures and coronavirus home testing cost are covered by health flexible spending arrangements and health savings account.

COVID -19 Home Testing Are Medical Expenses

by | Oct 8, 2021 | Deductions, Health Care, IRS | 0 comments